Ovintiv has received Kimmeridge’s notice of its intent to nominate three director candidates to stand for election to our Board of Directors. We welcome discussions with all shareholders and have a history of open dialogue with all shareholders, including Kimmeridge. Our Corporate Responsibility and Governance Committee will carefully review the nominations.
Ovintiv’s Board and management team have a track record of taking decisive actions to drive value for shareholders and stakeholders. Our priorities today are clear: reduce debt, maintain the scale of our business, relentlessly pursue efficiencies, drive down emissions and return cash to shareholders. Our rigorous approach to capital allocation ensures free cash flow generation and the creation of value through the cycle.
We have made significant changes to our Board since 2019, including adding three new directors, appointing a new independent chairman, and realigning our committee composition to more closely align with each element of our ESG strategy. Our compensation program is dynamic and aligned with shareholder feedback, financial and operating outcomes, and equity performance and we have added emissions-related performance targets tied to the 2021 compensation program for the entirety of the organization.
We conduct comprehensive annual outreach to shareholders where members of our Board speak directly with investors. In 2020 we solicited feedback from approximately two-thirds of our ownership, including Kimmeridge. We are, as always, open-minded to any and all ideas that advance our objective of creating value and remain committed to acting in the best interest of all shareholders.
About Ovintiv Inc.
Ovintiv is one of the largest independent producers of crude oil, condensate and natural gas in North America. The Company is committed to preserving its financial strength, maximizing profitability through disciplined capital investments and operational efficiencies and returning capital to shareholders. A talented team, in combination with a culture of innovation and efficiency, fuels our economic performance, increases shareholder value and strengthens our commitment to sustainability in the communities where we live and work. To learn more, visit: www.ovintiv.com.